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AI Disruption Trade Drives Divide in Travel and Leisure Stocks
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February 13, 2026
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4:28Now PlayingNicole D'Souza, Bloomberg Intelligence Internet and Software Equity Analyst, breaks down the latest travel earnings and explains how AI is impacting leisure stocks.
Fears around AI disruption have created a dramatic divide in the travel and leisure sector, with the stocks of online-booking platforms collapsing while traditional hotel operators have rallied.
The price action has been stark: TripAdvisor Inc. has plunged 29% this year, sinking to an all-time low this week after its earnings disappointed. Booking Holdings Inc. and Amadeus IT Group SA have each lost 22% this year. The latter was downgraded by Citi analysts, who said they don’t expect much “near-term payback” from the European travel tech provider due to increased AI-disruption risks.
By contrast, Marriott International Inc. has surged 14% and Hilton Worldwide Holdings Inc. has gained 12%, with analysts raising price targets on Hilton following its Feb. 11 earnings report, according to data compiled by Bloomberg.
The selloff in some travel names accelerated in early February, as investors fled firms perceived as vulnerable to AI upheaval. The selling spree — which was initially sparked last week by new tools from Anthropic PBC — has spread to impact IT services, wealth management, real estate platforms and logistics stocks. ogistics stocks plunged on Thursday as the group became the latest victim of the artificial intelligence “scare trade.” At the center of the selloff: a former karaoke company with a stock-market value of only $6 million.
The little-known company is worth just a fraction of the value it knocked off of a constellation of others — all of which were dumped by investors fearful of even the faintest threat posed by AI. The company’s trumpeting of its logistics platform sent the Russell 3000 Trucking Index sliding 6.6%. CH Robinson Worldwide Inc. tumbled 15% — and at one point was down by a record 24% — while Landstar System Inc. fell 16%.
It was the worst drop for the sector since April’s trade-war market meltdown. Drug distribution stocks were also caught up in the selloff, with McKesson Corp. and Cardinal Health Inc. both sliding about 4%. Over in Europe, the logistics sector also sank Thursday, with DSV A/S falling 11%, Kuehne + Nagel International AG sliding 13% and DHL Group dropping 4.9%.
The chief executive officer of the karaoke-turned-AI company was among those left shocked by the market action — which began after the company said its SemiCab platform was helping its customers scale freight volumes by 300% to 400% without a corresponding increase in operational headcount.
“Never in my wildest dreams would I ever have imagined a day like today,” said Gary Atkinson, CEO of Algorhythm Holdings Inc. “It’s almost like David versus Goliath.” The latest companies to be swept up in the selling join real estate firms, software makers, private credit providers, insurance brokerages and wealth managers among the industries battered in recent sessions by fears of AI’s disruptive power. Thursday’s losses came amid a broader risk-off move in markets that saw the Nasdaq 100 Index tumble 2%, while gold, silver and cryptocurrencies also posted steep losses.
“The level of paranoia is Category 5,” said Joseph Shaposhnik, portfolio manager at Rainwater Equity. “It’s not something that we’ve seen in quite a long period of time.”
The worries over AI-fueled disruption underscore a sea change in market sentiment. Enthusiasm for the technology drove the lion’s share of stock market gains over the last few years. But it has been replaced by worries that the newest tools released by Alphabet Inc.’s Google, closely held AI developer Anthropic and a slew of lesser-known startups are already good enough to threaten a wide array of companies, many far outside the umbrella of technology.
Wall Street has become so jittery about AI that just a whiff of possible disruption is enough to send entire sectors over a cliff. There wasn’t as clear of a catalyst around the real estate selloff that started Wednesday and sent shares of CBRE Group Inc. and Cushman & Wakefield Ltd. to their worst one-day drops since 2020.
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